Regulation 11 - Procedure where certificate of registration is not granted - Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011

Procedure where certificate of registration is not granted 11. (1) Where an application for the grant of certificate of 1 [***] registration does not satisfy the requirements specified in regulation 6 9, the Board shall reject the application after giving the applicant an opportunity of being heard. (2) The decision of the Board to reject the application shall be communicated to the applicant in writing within thirty days of such decision, stating therein the grounds on which the application has been rejected. (3) Any applicant, aggrieved by the decision of the Board, may apply within a period of thirty days from the date of receipt of such intimation to the Board for reconsideration of its decision. (4) The Board shall reconsider an application made under sub-regulation (3) and communicate its decision thereon, as soon as possible in writing to the applicant. ************* NOTES:- 1 The words initial or permanent omitted by the Securities and Exchange Board of India (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations, 2016 w.e.f. 08-12-2016.